Vexcel Imaging signed a definitive agreement to acquire the imagery sourcing group from Verisk’s Geomni business. The acquisition will combine Geomni’s imagery surveying and content-related teams and assets into Vexcel. Verisk will be a minority owner in Vexcel with full access to all aerial imagery libraries.
The combination of Geomni’s fleet of fixed-wing aircraft and aerial operations, mapping business, and oblique aerial image library together with Vexcel’s sensor business and data program will create a leading geospatial data library.
Geomni’s analytics team and assets will remain part of Verisk and continue to focus on advanced analytics. The team will work closely with Vexcel on a strategic road map and joint projects.
Vexcel Imaging was founded in 1992. The company’s line of UltraCam systems was launched with the first UltraCam in 2003. Vexcel is headquartered in Boulder, Colorado; operates an office in Graz, Austria; and will now have teams and operational hubs strategically located throughout the United States and in Spain.
Vexcel maintains a strong partnership with the Geospatial Intelligence Center (GIC), an insurance industry consortium spearheaded by the National Insurance Crime Bureau (NICB), a nonprofit organization dedicated to fighting insurance fraud and crime. The GIC empowers its member insurers to improve their decision making and risk management by leveraging aerial imagery and data in visual tools and automated processes. The partnership will provide enhanced support to GIC member insurers in the form of additional flying and processing capabilities as well as access to the newly scaled and unified geospatial library and enhanced analytics.